Amazon to accept Bitcoin as early as this October?

[jorneyflair]

Can not imagine. How will they do a refund? Btc price fluctuates every second. They can not pay you the same amount of btc back 20 days later. If you pay 1 btc and get 0,89 back then you'll become pissed, even if it is the same value you paid.

If you pay 1 btc you get 1 back, no matter the fluctuation.

They will introduce btc payments only on selected items in the beginning.

This could potentially be a problem. I would imagine that amazon would probably use something like Bitpay as a payment gateway to convert their bitcoin as soon as they receive it or at least until bitcoin becomes stable enough for them to deal entirely in bitcoin without fiat.

This news is unconfirmed and should be taken with a grain of salt.

However if true, it'll boost bitcoin price for sure.

[RoommateAgreement]

i think this will eventually happen whether Amazon likes it or not. they can resist it all they want but eventually they have to give in. whether this October or next year or ... they will do it.

with the growth that bitcoin sees and also the competition that it is bringing with things such as OpenBazaar, things like Amazon will be screwed if they don't keep up with bitcoin and all that it offers.

[AngelSky]

i think this will eventually happen whether Amazon likes it or not. they can resist it all they want but eventually they have to give in. whether this October or next year or ... they will do it.

with the growth that bitcoin sees and also the competition that it is bringing with things such as OpenBazaar, things like Amazon will be screwed if they don't keep up with bitcoin and all that it offers.

But I think ,this will happen soon.Since the price of bitcoin is again start to raise its original value.So all the Seller will accept the bitcoin.Then Amazon also forced to accept the bitcoin for their transcation.Since the price of bitcoin is keeps on increasing.Amazon will get very huge profit when they sell bitcoin.

[SimonJones]

The news is not confirmed. Of course if Amazon starts accepting Bitcoin, it would be great exposure for Bitcoin and people who think it's a scam will have something to think about.

[squatter]

I don't think it's realistic for a company of Amazon's scale to accept Bitcoin at this point.

and why exactly is that not realistic

Because of a thing called "liquidity." No payment processor can guarantee liquidity for Amazon. So unless you are suggesting that Amazon is going to simply "hodl" the vast majority of BTC received, it's not realistic.

And if they did, they would need to hedge most or all of the fiat value -- meaning the more that bitcoiners "support" Amazon by spending BTC there, the more immediate downward pressure there is on the price. Spending BTC in this context is equal to selling it.

you think Amazon will sign up on bitstamp or poloniex or coinbase to sell the coins each day
because price is determined on those exchanges not the way merchants receive the money. and you seem to not know about how BitPay works by automatically converting bitcoin back to fiat.
also you seem to forget that for every buy there is a sell. someone buys bitcoin to spend so the merchant sell. there will be a balance.

You don't know what "converting bitcoin to fiat" means? That equates to selling pressure by definition (i.e. downward pressure on the price).

I didn't forget that for every buy there is a sell. The point is that, all else equal, merchants accepting bitcoins for payment represents supply, not demand. If you want to have a discussion about why demand for bitcoins is too strong for that to matter because x/y/z, that's a different discussion.

If people really want the price to go up, they should preach hoarding, not spending.

price will go up with more adoption, more adoption happens with more people coming in, more people should be coming in to use bitcoin as a currency not just bag hold it to dump for more profit, and that will only happen with more merchants accepting bitcoin, and they will only accept it if people are spending bitcoin.

growth doesn't just happen on its own. there is a limit to how many speculators invest and how much price can go up because of them.

We don't need merchants "accepting" bitcoin only to immediately dump it. What we need are users who use the currency, removed from fiat conversion. We need users who want to buy bitcoins for reasons other than to spend them at merchants who just want dollars.

I'm not saying that Bitcoin doesn't have use as a currency. I'm saying that merchant acceptance at this stage should not be a priority -- not when merchants aren't interested in holding BTC and actually participating in the economy.

Bitcoin = censorship-resistant, trustless money. And digital gold. Not just another payment rail for merchants to add alongside Visa and Mastercard.

[sanjeevtalks]

Can not imagine. How will they do a refund? Btc price fluctuates every second. They can not pay you the same amount of btc back 20 days later. If you pay 1 btc and get 0,89 back then you'll become pissed, even if it is the same value you paid.

I am sure they'll draft a refund policy and will warn buyers at the time of buying itself on fluctuating values or even refunds back in the form of Amazon Pay.

[investeerder]

Can not imagine. How will they do a refund? Btc price fluctuates every second. They can not pay you the same amount of btc back 20 days later. If you pay 1 btc and get 0,89 back then you'll become pissed, even if it is the same value you paid.

I am sure they'll draft a refund policy and will warn buyers at the time of buying itself on fluctuating values or even refunds back in the form of Amazon Pay.

October month come but there's no news about it from amazon and maybe they will analyzed some things regarding to this acceptance since the flactuating value of bitcoins are changing time to time but if amazon will pursue this adoption well a possible huge return of earnings will came unto them since we know bitcoins is been globally used by many people and certain powerful countries.

[Bacotan Bae]

Good news if amazon receive bitcoin, currently I still often shop on amazon so that if someday receive bitcoin I will spend more. Let's amazaon accept bitcoin please.

[VanDeinsberg12]

Can not imagine. How will they do a refund? Btc price fluctuates every second. They can not pay you the same amount of btc back 20 days later. If you pay 1 btc and get 0,89 back then you'll become pissed, even if it is the same value you paid.

I am sure they'll draft a refund policy and will warn buyers at the time of buying itself on fluctuating values or even refunds back in the form of Amazon Pay.

Pretty sure they'll do that, the price you're going to pay with bitcoin is already fixed and at that time when you choose to pay with bitcoin, the payment gateway already set a fixed equivalent to btc so that there's no thing called fluctuative value anymore, then amazon can simply refund the money just as the same as the price of the stuff.

[Proton2233]

Maybe it was another fake? Today is already October and I don't see any changes. Of course I support this idea of trading with bitcoins. Such a move would be a significant victory for the bitcoin community. But I think that this goes against the plans of governments and therefore they will not allow it. But the fact that such projects are negotiated in society, it's good. This contributes to the rising popularity of bitcoin.

[arpon11]

This is a good indicator that bitcoin price will soon pump up.  We expect others online retailers to follow suit as this will easily take us to the moon. I expect and interest from people and government after this happen and we hope bitcoin get to mainstream media because of this.

[Apened]

Maybe it was another fake? Today is already October and I don't see any changes. Of course I support this idea of trading with bitcoins. Such a move would be a significant victory for the bitcoin community. But I think that this goes against the plans of governments and therefore they will not allow it. But the fact that such projects are negotiated in society, it's good. This contributes to the rising popularity of bitcoin.

What? do you ever read what the Op posted? It is said and written there by October 26. Also any changes will not be done in just a one day. After having bitcoins in amazon it will be a breakout for the people to get curious what is that payment method and will be a big eay for the people to know what is bitcoins.

[squatter]

Maybe it was another fake? Today is already October and I don't see any changes.

It was definitely fake news.... just clickbait. It was pretty obvious as soon as it was released, too. Squawker is not a reliable source, for one thing, and they don't even have much readership.

And the entire article was just the rambling speculations of one person who isn't noteworthy. The only reason anyone took it seriously was because John McAfee posted it on Twitter. He should be embarrassed for spreading around blatantly false rumors like this.

[Oo ako to]

That definitely will happen. If a company as large as Amazon wants to stay in business, they need to adapt depending on what the customer wants and that is including bitcoin as another form of payment. The demands of the customers will force every large companies to follow.

[hase0278]

That definitely will happen. If a company as large as Amazon wants to stay in business, they need to adapt depending on what the customer wants and that is including bitcoin as another formm of payment. The demands of the customers will force every large companies to follow.

It would be nice if it would really come true but the links provided by OP are not reliable ones. They look like that they are clickbait and if this news about amazon accepting bitcoin this October, then it would have had been already published on cointelegraph or other trusted sources and also by amazon themselves confirming that they would accept bitcoin this month. Since I haven't seen Amazon do that, I think news is fake.

[illyiller]

That definitely will happen. If a company as large as Amazon wants to stay in business, they need to adapt depending on what the customer wants and that is including bitcoin as another form of payment. The demands of the customers will force every large companies to follow.

Is that what the customer wants? My take from people is that they are very happy with the free same-day/1-day delivery, streaming service, AmazonFresh/Prime Now services. They seem to be phasing out Fedex/UPS entirely and drastically improving delivery times. Amazon has got a lot on their plate with their perpetually huge expansion. They're taking over the world, basically.

And I honestly don't think that the vast majority of their customer base is demanding that they accept Bitcoin. I think much of their customer base is silently rooting for them to continue taking over global commerce, so they can realize even lower costs.... that's about it, though.

[jerowacik]

That definitely will happen. If a company as large as Amazon wants to stay in business, they need to adapt depending on what the customer wants and that is including bitcoin as another formm of payment. The demands of the customers will force every large companies to follow.

It would be nice if it would really come true but the links provided by OP are not reliable ones. They look like that they are clickbait and if this news about amazon accepting bitcoin this October, then it would have had been already published on cointelegraph or other trusted sources and also by amazon themselves confirming that they would accept bitcoin this month. Since I haven't seen Amazon do that, I think news is fake.

there should be official information from amazon, because the maze of information will not give us a belief. sometimes some people also make false information for their own purposes. yes no information will really happen if there is no official information from amazon. this is a common thing in today's technology era.

[legendbtc]

i think this will eventually happen whether Amazon likes it or not. they can resist it all they want but eventually they have to give in. whether this October or next year or ... they will do it.

with the growth that bitcoin sees and also the competition that it is bringing with things such as OpenBazaar, things like Amazon will be screwed if they don't keep up with bitcoin and all that it offers.

But I think ,this will happen soon.Since the price of bitcoin is again start to raise its original value.So all the Seller will accept the bitcoin.Then Amazon also forced to accept the bitcoin for their transcation.Since the price of bitcoin is keeps on increasing.Amazon will get very huge profit when they sell bitcoin.

Yes, there is a chance once the US government gives license to the exchanges and start giving green signal bitcoin acceptance then the everybody will start accepting Bitcoin as payment in all e-commerce business. Not only Amazon there are many outlets will start accepting the Bitcoin as the payment method.

[panorama]

That definitely will happen. If a company as large as Amazon wants to stay in business, they need to adapt depending on what the customer wants and that is including bitcoin as another form of payment. The demands of the customers will force every large companies to follow.

I don't think Amazon is at any risk of going out of business if they choose not to accept bitcoin. At least not at any point in the near future.

[cryptocrusher]

If this happens it will be a huge moment for bitcoin and I would expect a big price surge, not only is Amazon a huge retailer but it would also start to pave the way for further large corporations to begin accepting bitcoin as a payment method.